Product Development Agreement
An Product Development Agreement sets out the relationship between a product developer and the business or individual receiving product development services.
4.0 (1 reviews)
Last updated December 19, 2024
Under 10 minutes
Suitable for Australia
Written by
Edwin Montoya Zorrilla
Reviewed by
Damin Murdock
Document Overview
As a product developer, it's important that you have the right documents & agreements in place to make sure your services are delivered effectively, and even more importantly, that you get remunerated for those services. A Product Development Agreement sets out the terms and conditions between you as the service provider and the recipient of your work (ie. client). If your business is providing product development services, or you are looking to provide services to another entity, you need to set out the terms and conditions of those services. A Product Development Agreement sets out in writing the terms of service. This includes the services to be provided, how and when the services will be provided, and payment details regarding the services. It can also help prevent disputes arising throughout the term of the agreement.
Please note that this agreement has been specifically designed for use when providing product development services. If your services are of a more general nature, then you can use our services agreement.
The Legal Risk Score of a Product Development Agreement Template
Our legal team have marked this document as low risk considering:
- The agreement specifies that services must commence on a fixed date, which could be problematic if either party faces unforeseen circumstances that delay the start.
- The agreement provides for flexibility in how the services are provided. However, it does not provide flexibility in the payment terms, which could pose financial risks if the scope of the services expands or unexpected costs arise.
- The agreement provides for termination for convenience is available.
This document provides a structured approach to managing a personal training services agreement, which is beneficial for clarity and setting expectations. However, the rigidity in service alterations and fixed payment terms may introduce operational and financial risks that users should consider. Users familiar with service agreements will recognize these aspects as common, but should carefully consider whether the specific terms align with their needs and the dynamic nature of personal training services.
Product Development Agreement Checklist
Complete your free Product Development Agreement with our checklist
Ensure Proper Signatures
Ensure that all parties involved in the agreement sign the document to validate its execution and enforceability.
Verify Commencement and Completion Dates
Confirm that the commencement and completion dates for the services are clearly specified and agreed upon by all parties to avoid any misunderstandings.
Document Accessibility
Keep the signed document in a secure location where it can be easily accessed by authorised parties when needed.
Use this Product Developer Agreement if:
- You would like to provide product development to another entity; or
- You would like to receive product development from another entity.
What does the Product Developer Agreement cover?
- Provision of services;
- Materials;
- Timing;
- Pricing;
- Payment;
- Warranty, alterations and rejection of services;
- Confidentiality;
- Copyright and intellectual property;
- Non-solicitation of personnel and clients;
- Limitation of liability and waivers;
- Mediation; and
- Termination for provider and recipient.
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